Does the Supreme Court’s Dudenhoeffer Decision under ERISA do “More Harm than Good” for “Stock Drop” Plaintiffs?

Earlier this year, the U.S. Supreme Court decided the case of Amgen v. Harris, in which the Court revisited and clarified its 2014 holding in Dudenhoeffer v. Fifth Third Bancorp. Both cases concern the application of a fiduciary’s duty of prudence with respect to employer stock held in a benefit plan governed by the Employee Retirement Income Security Act of 1974 (ERISA). The 2015-16 Term has been a busy one for the Supreme Court when it comes to ERISA issues, as Amgen – which had not even been accepted for review by the Court before the Term began – is one of four cases decided in 2016 that involve ERISA or that had potential significant ERISA implications.